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Home My WebLink AboutContract 43802 CITY SECRUARY CONTRACT CIO. MEMORANDUM OF OIL AND GAS LEASE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF TARRANT § BE IT REMEMBERED that on the ay of , 2012, a Paid Up Oil and Gas Lease Was made and entered into by and between the CITY OF FORT WORTH, a home rule municipal corporation of the State of Texas, 1000 Throckmorton Street, Fort Worth, Texas 76102, hereinafter called "(LESSOR)"; and VANTAGE FORT WORTH ENERGY, LLC, 777 Main Street, Suite 790, Fort Worth, Texas 76102, hereinafter called ("LESSEE"), where LESSOR hereby grants, leases and lets exclusively to LESSEE for the purpose of exploring for, developing, producing and marketing oil and gas, together with any liquid or gaseous substances produced in association therewith, from the following described land situated in Tarrant County, Texas, to-wit: SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF Subject to the other provisions therein contained, said lease provides for a primary term of two (2) years, from the date thereof, and as long thereafter as oil or gas or other substances covered therein are produced in paying quantities from the leased premises or from lands pooled therewith, or this lease is otherwise maintained in effect pursuant to the provisions therein. An Executed copy of said Oil and Gas Lease is in the possession of LESSEE at its address indicated above. Executed this th . o 2012. LESSOR: CITY OF FORT WORTH ATTEST: 4cam 00000000 �u oo .. By: Fernando Costa tify Sec ■.a �; Title: Assistant City Manager g 0 4� p APPROVED AS TO FORM AND LEGALITY: � 0a ��104 oaoOaa By: n Assistant y Attorney FOFFICIAL RECORD CITY SECRETARY F'T. WORTH,Tx ACKNOWLEDGEMENTS THE STATE OF TEXAS § COUNTY OF TARR-ANT § BEFORE ME,the undersigned, a Notary Public, on this day personally appeared Fernando Costa, Assistant City Manager of the City of Fort Worth, a home-rule municipal corporation of the State of Texas, known to me to be the person whose name is subscribed to the foregoing instrument and, that he has executed the same for the purposes and consideration therein expressed. GIVEN UNDER MY HAND AND SEAL OF OFFICE this "day o 2012. [SEAL tz Notary Public in and for the =: State of Texas f...,...• *� y c ��'�DANiE .�;,� cM��SSro�fiX 5 My Commission Expires: ao,X13 ` —•��'r Print Name of Notary Public Here LESSEE: VANTAGE FORT WORTH ENERGY, LLC a Limited Liabilit ompany -/,(")d1kk By A/-,a-ADAE974 Cxl-Z- Its: ��,�' I_A A� A:--1�0 C A THE STATE OF TEAS CoMpADO § COUNTY OF TARRANT ARAPAHOE § BEFORE ME, the undersigned, a Notary Public, on this day personally appeared W. Wort, Carlin t of Vantage Fort worth Energy, LLC, a s Limited Liability Company of * Delawarethe State of *known to me to be the person whose name is subscribed to the foregoing instrument and, that he has executed the same for the purposes and consideration therein expressed. GIVE ER MY HAND AND SEAL OF OFFICE this 23rd day of October_, 2012. [SEAL] otary Public in and for the State of Tex-&s Colorado is j ` My Commission Expires: 02/09/2013 ��: •� Karla J. Hillman Print Name of Notary Public Here P u � EXHIBIT A 8.4859 ACRES,MORE OR LESS,OUT OF THE DANIEL DULANEY SURVEY,A-411,BETTER DESCRIBED AS FOLLOWS: Tract 1: 5.1759 acres of land, more or less, out of the Daniel Dulaney Survey, A-411, Tarrant County, Texas, and being more particularly described as Tract A, Block 15 and tracts A and B, Block 17, Rosedale Plaza Addition to Fort Worth, Tarrant County, Texas according to the plat recorded in Volume 388-1, Page 27 of the Plat Records of Tarrant County, Texas and being further described in a Special Warranty Deed dated June 30, 1969 from Housing and Urban Development to the City of Fort Worth, recorded in Volume 4759,Page 936, Deed Records,Tarrant County,Texas. Tract 2: 3.31 acres of land, more or less, out of the Daniel Dulaney Survey, A-411, Tarrant County, Texas, and being more particularly described as Lot 1, Block 1, Stop Six Community Center Addition to Fort Worth, Tarrant County, Texas according to the plat recorded in Volume 388-79, Page 21 of the Plat Records of Tarrant County,Texas. (MARTIN LUTHER KING PARK& COMMUNITY CENTER) (ROSEDALE WEST UNIT) M&C Review Page 1 of 2 Official site of the City of Fort Worth,Texas CITY COUNCIL AGENDA � COUNCIL ACTION: Approved on 911812012 DATE: 9/18/2012 REFERENCE L-15437 LOG NAME: 06MLKPA NO.: RKLEASE CODE: L TYPE: NON- PUBLIC NO CONSENT HEARING: SUBJECT: Approve Acceptance of Lease Agreement with Vantage Fort Worth Energy LLC, in the Amount of$42,429.50 for Natural Gas Drilling Under 5.4859 Acres of Martin Luther King Park and Community Center Located at 5565 Truman Drive (COUNCIL DISTRICT 5) RECOMMENDATION: It is recommended that the City Council approve the acceptance of a lease Agreement in the amount of$42,429.50 for natural gas drilling under 8.4859 acres more or less of City-owned property known as Martin Luther King Park and Community Center to Vantage Fort Worth Energy LLC, for a two-year primary term. DISCUSSION: On April 29, 2008, (M&C L-14521) the City Council authorized the subsurface use of Martin Luther King Park for the extraction of natural gas from an off site location. Subsequently, on April 10, 2012, (M&C L-1 5349) the City Council authorized the subsurface use of Martin Luther King Community Center for the extraction of natural gas from an off site location. The Martin Luther King Park and Community Center are located on several contiguous tracts of property consisting of 8.4559 acres more or less. A Request for Bid Proposals (RFP) for Martin Luther King Park and Community Center properties was advertised for two consecutive weeks in the Fort Worth Star-Tele�c r� am, published on August 1, 2012 and August 8, 2012. The following sealed bid for the gas lease was received and opened on August 9, 2012. Bidder Lease Total Lease Bonus Percent BonuslAcre Ro alt Vantage Fort Worth Energy $5,000.00 $42,429.50 25.00 Percent LLC. "rhe bid received was evaluated by Staff in regard to the lease bonus rate and royalties paid to the City, the bidder's drilling plan, reputation, financial status, project team and compliance history. Vantage Fort Worth Energy LLC, met all the minimum requirements of the bid and is therefore recommended for award of this lease. Timely award and execution of this lease will allow for inclusion of the 8.4859 acres of Martin Luther King Park and Community Center in the drilling unit currently being formed. The City has established a Minority/Women Business Enterprise (M/WBE) participation goal of three percent on City--owned property of 40 acres or more without an investment goal. On leases of City- owned property of 700 acres or more, the City has established an option of either a three percent M1WBE goal or the inclusion of an MIWBE investor. This lease is less than 40 acres therefore no M1WBE participation goal is required. Revenues received from this lease will be deposited according to the current Financial Management Policy Statements (M&C G-1 7470 approved December 13, 2011), which direct 100 percent of the http:Ilapps.cfwnet.orglcounc1 l_packetlmc review.asp?ID=17346&councildate=911812412 10/25/2012 M&C Review Page 2 of 2 bonus to the Park Gas Lease Project Fund to be used for capital improvements at this park. Since this park received state or federal grant funds, royalties and other fees received from this gas lease will be allocated 50 percent to the Park Gas Lease Project Fund and 50 percent to the Park System Endowment Gas Lease Fund. The property is located in COUNCIL DISTRICT 5, Mapsco 79Q. FISCAL INFORMATION/CERTIFICATION: The Financial Management Services Director certifies that the Planning and Development Department is responsible for the collection and deposit of funds due the City under this Agreement. TO Fund/Account/Centers FROM Fund/Account/Centers 0282 446100 801929933500 $42,429.50 Submitted for City Mana er's office b Fernando Costa (6122) Originating Department Head: Randle Harwood (6101) Additional Information contact: Jean Petr(536?) D. J. Harrell (8032) ••.....•,..�.,.-.anl viv.5 Nnww+w.!yn..�.vM:.5.nwa•iw•vuv�r-!.w.w ruu•...�..mvmv wv�;.!v�..i wan..w....wrn-nt..w.wa�u....rnvm.....v-.•rvr:.5.�rufna•v.••....nv.M.a..i.....n•.•.n..•nw..v�.•v�....a.........:.......-...-...ri�.�;.�..v...v..w...n...•.-'�r.-....-....n.��....�.�.....a--r.v.-wn.w.....-n...�.........•.ura.••.v•••nrr.v:-•••............��..a.n.......i•....m-r.v�+f"•••••��•u.�a......mwn.;r-.-n•wa..--•n...ua�x.iaa..•....vvmv..n-vvw••••r.raaa�aaaaa.rnm.... ...`:v '+aar a.aw ATTACHMENTS MLK PARK & COM MAP. df http:Ilapps.cfwnet.orglcounc1 l_packetlmc review.asp?ID=I7346&councildate=911812612 16/26/2012